PALMOILMAGAZINE, JAKARTA – In July 2024, Indonesia’s crude palm oil (CPO) production reached 3.617 million tons, a 2.0% decrease from June’s production of 3.691 million tons. Palm kernel oil (PKO) production also declined, dropping from 354 thousand tons in June to 344 thousand tons in July.
According to the Indonesian Palm Oil Association (IPOA), overall CPO production for 2024 up to July was 5.99% lower than the same period in the previous year, decreasing from 32.066 million tons to 30.146 million tons.
Domestic CPO consumption increased to 2.030 million tons in July, up from 1.940 million tons in June. While food consumption dropped by 40 thousand tons and oleochemical consumption by 7 thousand tons, biodiesel consumption saw a significant rise, jumping from 898 thousand tons to 1.035 million tons.
Also Read: IPOA Reports Drop in CPO Production but Surge in Exports for June 2024
Year-on-year (YoY) domestic consumption through July 2024 reached 13.510 million tons, an increase of 2.17% compared to 13.223 million tons in the same period last year.
“Food consumption got decreased to be 5.767 thousand tons or 5,18% smaller than it in the previous year. Oleochemical consumption reached 1.301 thousand tons or got decreased 2,11%. Biodiesel consumption got escalated to be 6.442 thousand tons or 10,84%,” Executive Director of IPOA, Mukti Sardjono said, as in the official statement to Palmoilmagazine.com, Friday (27/9/2024). (P2)
